Loans, Debt & Credit - View Single Post - I Don't Know What I should do...Please HELP! Loan with Wells Fargo!

Kelly712 · 02-23-2009, 08:53 AM

Thanks Dan. I want to send my letter ASAP, but I'm having trouble with whether to disclose a lay off. Technically my husband is still employed. Soon though when they ask for updated info, he may not be. I can't foresee the future. In addition, how do I know what debt to income ratio they are looking for in order to qualify for a loan mod. I read that it's a science. You don't want to show too much hardship, as to be a risk for default, and you don't want to show that you're too stable then they think everything is fine. That's what I'm having the most difficult time with.

02-23-2009, 08:53 AM	#3 (permalink)
Kelly712 Member Join Date: Feb 2009 Posts: 5 Nominated 0 Times in 0 Posts TOTW/F/M Award(s): 0	Re: I Don't Know What I should do...Please HELP! Loan with Wells Fargo! Thanks Dan. I want to send my letter ASAP, but I'm having trouble with whether to disclose a lay off. Technically my husband is still employed. Soon though when they ask for updated info, he may not be. I can't foresee the future. In addition, how do I know what debt to income ratio they are looking for in order to qualify for a loan mod. I read that it's a science. You don't want to show too much hardship, as to be a risk for default, and you don't want to show that you're too stable then they think everything is fine. That's what I'm having the most difficult time with.